By Cyber Era NG Special Correspondent

IFC has delivered this year’s Climate Assessment for Financial Institutions (CAFI) Awards for Climate Reporting, recognizing financial institutions lending in emerging markets that use the CAFI tool to assess the climate eligibility and measure the climate impact of their investments. The CAFI Awards acknowledge IFC financial sector clients’ investments going into climate activities and the responsibility shown to report on their climate commitments. This recognition is based on climate finance transactions recorded in the CAFI tool and deemed eligible by IFC.

To date, IFC clients have used CAFI to report more than US$9.9 billion of climate loans disbursed; annual avoidance of more than 24.7 million tons of greenhouse gas emissions; 41.4 terawatt hours of renewable energy generated; 2.4 million square meters of green area built; and 2.3 million cubic meters of water saved. This reflects rapid growth in the use of CAFI in recent years, and the growing importance of climate reporting in the financial sector. 

“We are pleased to recognize our clients’ dedication and transparency in reporting their climate investments” said Global Director, Financial Institution Group, IFC, Tomasz Telma. “CAFI, is a critical platform for reporting progress in the fight against climate change by linking finance to impact which ensures that the financial services industry can measure and quantify the climate impact of their investments using transparent and globally recognized methodologies.”

The global CAFI top performers are: 

Most Transactions Reported: Banco Santander, Brazil

Highest Loan Amount Reported: Absa Bank, South Africa

Most GHG Mitigated Due to Reported Loans: Aditya Birla Finance, India

Best Achievement vs. Climate Targets: Banco Consorcio, Chile

Top performers in each of IFC’s regions have also been recognized for addressing climate change by investing in and measuring the impact of their climate projects.

Regional Award Winners:

Africa Award Country

Absa Bank       Highest Loan Amount Reported         South Africa

Nedbank LTD   Most GHG Mitigated South Africa

Access Bank PLC         Best Achievement vs. Climate Targets           Nigeria                         

East Asia and the Pacific                      

OCB Vietnam Most Transactions Reported Vietnam

OCB Vietnam Highest Loan Amount Reported         Vietnam

OCB Vietnam Most GHG Mitigated Vietnam

VP Bank Vietnam        Best Achievement vs. Climate Targets           Vietnam                       

Central Europe                         

BT Leasing       Most Transactions Reported Romania

Banca Transilvania S.A.          Highest Loan Amount Reported         Romania

Banca Transilvania S.A.          Most GHG Mitigated Romania

Santander Bank Polska           Best Achievement vs. Climate Targets           Poland                          

Latin America and the Caribbean                   

Santander Brazil         Most Transactions Reported Brazil

Santander Brazil         Highest Loan Amount Reported         Brazil

BBVA Leasing Most GHG Mitigated Mexico

Banco Consorcio         Best Achievement vs. Climate Targets           Chile                 

Middle East and Central Asia                          

Uzpromstroybank        Most Transactions Reported Uzbekistan

Uzpromstroybank        Highest Loan Amount Reported         Uzbekistan

Uzpromstroybank        Most GHG Mitigated Uzbekistan

QNB Finansleasing      Best Achievement vs. Climate Targets           Türkiye             

South Asia                    

CBC     Most Transactions Reported Sri Lanka

Federal Bank   Highest Loan Amount Reported         India

Aditya Birla Finance    Most GHG Mitigated India

ONE Bank        Best Achievement vs. Climate Targets           Bangladesh